Exploration & Production | Operational Updates | Production Rates
Parex Resources Increase Production Substantially, Oil Volume Remains Flat
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Parex Resources Inc. has provided an operational update.
Production: Average production for the periods below was approximately: October 1-December 31, 2013 (Q4): 17,285 bopd, an increase of 35% over the fourth quarter of 2012 and 7% greater than the prior quarter production; December 1-December 31: 18,000 bopd with the addition of Tigana-1, Tigana Sur-1 and La Casona-2 test volumes; and Full year 2013: 15,850 bopd, an increase of 39% over the full year of 2012; and Preliminary analysis indicates that crude oil inventory remained relatively flat from the prior quarter to December 31, 2013. Accordingly we expect Q4 crude oil sales to be in-line with Q4 crude oil production. Tigana & Tigana-Sur (Non-Operated, Block LLA-34, WI 45%):On December 11, 2013 Parex reported the initial Tigana-1…
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